California, April 26: Mark Zuckerberg is the founder of Meta, which offers multiple social media apps, such as Instagram, WhatsApp, Threads, Facebook, and Messenger. Despite running such a tech giant like Meta, Mark Zuckerberg's Base Salary had been only $1; however he reportedly earns an additional $24.4 million as income. In the tech industry, CEOs take hefty salaries to manage companies and their operations; however, the $1 salary could reportedly be symbolic.

The CNBC-TV18 reported that Mark Zuckerberg was Meta's lowest-paid employee on paper. However, his actual income was higher than the nominal $1 salary. The report said that wages in the tech industry usually range from $35,000 to $1,20,000 based on the job role and skills, as per Indeed. Despite not taking home a bonus, Mark Zuckerberg managed to take home $24.4 million through other means of compensation. The amount received by the Facebook founder reportedly covered his security expenses. WhatsApp To Stop Working in India? Here’s What Meta-Owned Messaging App Told Delhi High Court About End-to-End Encryption.

Mark Zuckerberg Earned Through Security Costs

Mark Zuckerberg's security costs reportedly fluctuated and were described by Meta as a "year of efficiency". The company said his personal security increased from $10 million to $14 million from 2018 pre-tax allowances by 40%. The report said that it had led to speculation about the increase in security costs and Meta laying off 11,000 employees. Meta CEO Mark Zuckerberg reportedly spent $14,829,245 on personal securities in 2022 and it decreased slightly despite multiple rounds of Meta layoffs. 

Mark Zuckerberg's Other Expenses 

In addition to spending on personal securities, Meta CEO spent $14,829,245 on his residence and other expenses during his travels. The report also said that Mark Zuckerberg's security expenses totalled $9,431,139 in the following year, with compensation nearing $1 million for the cost of personal usage on private aircraft. Meta justified the spending on individual securities and other substantial expenses by citing "specific threats" to Mark Zuckerberg, the face of the company. Snapchat Users in World: Instant Messaging App Reaches 422 Million Daily Active Users Globally in First Quarter of 2024.

Mark Zuckerberg Dollar Salary Club

Since 2013, Mark Zuckerberg has been a part of the "dollar salary club" along with people like Larry Page, the late Steve Jobs and Larry Ellison. The club reportedly had individuals who got a $1 nominal salary. Over a decade, Mark Zuckerberg earned $11 in salary, according to the report. However, Mark Zuckerberg's wealth had surged and became $28 billion in a single day in February following Meta's Q4 results. Meta's operating margins doubled, and expenses were reduced by 8% year-over-year, even after the reduction of nearly 21,000 employees. The report said that on April 23, Mark Zuckerberg's net worth was $176 billion, higher than $78 billion in the previous year.

(The above story first appeared on LatestLY on Apr 26, 2024 01:22 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).